Software development company Consensys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its commissioners.
The complaint, filed on April 25 in the U.S. District Court for the Northern District of Texas, accuses the SEC of improperly extending its regulatory reach to include Ether (ETH), the cryptocurrency used within the Ethereum network, as a security. This marks a pivot from the SEC’s prior indications that Ether was not classified as a security.
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Software development company Consensys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its commissioners.
The complaint, filed on April 25 in the U.S. District Court for the Northern District of Texas, accuses the SEC of improperly extending its regulatory reach to include Ether (ETH), the cryptocurrency used within the Ethereum network, as a security. This marks a pivot from the SEC’s prior indications that Ether was not classified as a security.